Navigation Links
Trident Capital and Mustang Ventures Lead Series A Investment in Profex, Inc.
Date:8/28/2008

Leading dermatology company serves growing professional and consumer markets in China.

Palo Alto, CA (PRWEB) August 28, 2008 -- Trident Capital, an international venture capital firm, today announced that together with Mustang Ventures, its investment partner in China, is leading a Series A round of financing for Profex.Inc. Trident Capital & Mustang Ventures jointly invested $15.5 million in the round. Profex, a leading Dermatology company in China, licenses, acquires, and markets an international portfolio of proprietary products in the professional and consumer channels in China. Its products include best-in-class prescription and over-the-counter medicines, aesthetic products and cosmeceuticals.

"The estimated $1.3 billion market for dermatology related products in China is growing at 20% annually -- disproportionately faster than the overall market," said Don Dixon, Trident's co-founder and managing director. "Profex is in a position to lead the market with its experienced management, well-established major contracts and wide distribution."

Profex, Inc. is headquartered in Shanghai, China. The Company has two main divisions, serving the professional and consumer markets. The professional division markets products to dermatologists in the hospital and clinic environment in China. The comprehensive and growing Profex product portfolio includes pharmaceuticals from leading dermatology companies worldwide, including Galderma, GlaxoSmithKline, Bristol-Myers Squibb and most recently, from Novartis through an exclusive commercial agreement. The consumer division sells and markets much of the same product portfolio, as well as leading cosmeceuticals to the direct-to-consumer channel with a concentration on retail pharmacies. Profex employs over 230 employees in China today. The investment from Trident Capital and Mustang Ventures will be used to grow the company's sales and servicing efforts as well as for acquiring Dermatology & Cosmetic Dermatology related assets for China. Trident Capital's Don Dixon will join Profex's board of directors.

"The skin care products market in China is large and growing, with real market penetration having only occurred over the last 15 years," said Paul Contomichalos, Profex CEO and co-founder. "Profex already has good traction, with the most comprehensive offering of dermatology brands in China. This significant new investment from Trident and Mustang will allow our company to build a leading position in the professional dermatology sector and, by leveraging our professional strength and brands, to expand further into the rapidly growing consumer market in China. We will also broaden our geographic reach to better service the increasing needs of professionals and consumers across the country."

About Mustang Ventures

Mustang Ventures is a China-focused venture firm focusing on early stage companies that leverage China's attractive cost structure, large pool of intellectual talent, export capability and burgeoning domestic end market. Mustang's partners bring together more than 40 years operating experience and 10 years of investing experience.

About Trident Capital
Trident Capital is a leading venture capital and private equity firm with over $1.5 billion of capital under management, including $400 million raised in its most recent fund, Trident Capital Fund VI. Trident focuses on investments in healthcare, information services, Internet, and Cleantech. Trident invests across multiple stages, including traditional venture capital investing as well as investments in micro-cap public companies, buyouts and consolidation platforms. Trident has offices in Palo Alto, Calif. and Westport, Conn. For more information, visit www.tridentcap.com.

About Profex Inc.
Profex Inc. is a leading Dermatology company in China. Profex licenses, acquires, and markets Dermatology, Cosmetic Dermatology, and Cosmeceuticals for the China market. For more information, visit the company's website at www.profex.com. For partnering opportunities, please contact partner @ profex.com.

###

Read the full story at http://www.prweb.com/releases/2008/08/prweb1261314.htm


'/>"/>
Source: PRWeb
Copyright©2008 Vocus, Inc.
All rights reserved  

Related medicine news :

1. Integrity Capital Partners Ranked 2nd Fastest Growing Insurance Related Company in US by Inc. Magazine
2. BioImagene Raises $26 M in Expansion Capital
3. Zix Corporation to Present to Investors at RBC Capital Markets Technology, Media and Communications Conference
4. Aduromed Closes Restructuring and Raises $3.8 Million of New Equity Capital
5. Statement by Alan Lambert, Scout Executive, National Capital Area Council, Boy Scouts of America (NCAC) Concerning Closure of Goshen Scout Reservation August 3, 2008
6. Medco to Present at the BMO Capital Markets 2008 Focus on Healthcare Conference
7. Cardiva Medical Announces Presentation at BMO Capital Markets 2008 Focus on Healthcare Conference
8. Paul Capital Partners Promotes Ken Macleod To Partner
9. PMC and County Announce Potential Capital Partners for Hospital
10. Washington Wizards Guard Roger Mason Jr. to Host Bowling at Lucky Strike to Benefit National Kidney Foundation of the National Capital Area
11. Vystar Corporation Announces Agreement with Kildare Capital to Provide Investment Banking Services
Post Your Comments:
*Name:
*Comment:
*Email:
Related Image:
Trident Capital and Mustang Ventures Lead Series A Investment in Profex, Inc.
(Date:6/23/2017)... ... June 23, 2017 , ... Ensuring ... two new videos highlight the importance of correctly using a meat thermometer. The ... has done extensive research on consumer food safety habits. Dr. Bruhn explains the ...
(Date:6/23/2017)... ... June 23, 2017 , ... 21 Middle East and South Asia Leaders Selected ... from government, business and civil society in 11 countries across the Middle East and ... in a transformative exchange of knowledge and ideas with the leading minds in their ...
(Date:6/23/2017)... ... 2017 , ... PureLife Dental is pleased to announce that California Dental Association ... part of the amalgam separator endorsement, all CDA members may purchase an ECO II ... retail value. This partnership between PureLife and CDA is especially timely as it coincides ...
(Date:6/23/2017)... ... , ... American Farmer, will feature Chr. Hansen, Inc (CHR Hansen) in an ... 2017. American Farmer airs Tuesdays at 8:30aET on RFD-TV. Check your local listings for ... Denmark in 1874 after a groundbreaking discovery of how to industrialize enzymes. Rooted in ...
(Date:6/23/2017)... ... June 23, 2017 , ... ... and related services to families and business owners in and around Lackawanna County, ... benefit senior citizens in the area. , Meals on Wheels of NEPA provides ...
Breaking Medicine News(10 mins):
(Date:6/8/2017)... Texas , June 8, 2017 /PRNewswire/ ... a leading developer and manufacturer of diagnostic ... announced today that Cressey & Company LP ... firm, has completed a growth-focused investment in ... a majority ownership position from selling shareholder, ...
(Date:6/5/2017)... CINCINNATI , June 5, 2017 The ... a brand of Diplomat Pharmacy, Inc. (NYSE: DPLO), has been ... Cincinnati Enquirer . Results are based on ... specializing in organizational health and workplace improvement. The survey measures ... ...
(Date:6/1/2017)... June 1, 2017 Nutriceutical Holdings (NH), parent ... Solutions (VRS), and KD Pharma Group have decided to ... by KD Pharma Group. KD Pharma Group will become ... to acquire the entire company. "We believe ... are committed to growing the NH companies by providing ...
Breaking Medicine Technology: